Próspera (honduras) is adopting Bitcoin as legal tender

Central Bank of Honduras has expressed its concerns about cryptocurrency.

Recently, the bank said any transactions carried out with a virtual asset falls under the responsibility and risk of the person carrying it out.

What do Bitcoin and Prospera have in common?

A new law in Honduras’s special economic zone “Honduras Prospera” has made Bitcoin a legal tender.

This tourist-centric island in Honduras’ Caribbean has announced that Bitcoin would be their legal tender.

Honduras created this special economic zone (SEZ) in 2020 to aid in trade and development. This autonomy allowed for an improved tax system, higher wages, and lower tariffs on imports.

“Prosperity’s open regulatory framework enables crypto-innovation and the use of Bitcoin by residents and businesses”, – Prospera’s authorities said.

Furthermore, the economic zone will also let municipalities, local governments, and international firms issue bonds by Bitcoin.

Honduras Prospera provides appealing tourist destinations to visit including the Roatan Island and the La Ceiba.

Why Prospera is Jumping on Bitcoin Now

Bitcoin was announced as a legal currency in El Salvador last year, which is a neighboring country of Honduras. The tourism industry has increased by 30%

The article’s writer Noah Jones did not hold any positions in assets or companies mentioned in this article on the date of publication. His opinions are articulated herein, and the reader accepts that some opinions could change as a result of newer information being revealed.

Noah Jones

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